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Samsung SDS Jamsil headquarters. (Photo=Samsung SDS) |
[Alpha Biz=(Chicago) Reporter Kim Jisun] Daol Investment & Securities lowered its target price from 250,000 won to 230,000 won on the 2nd, saying Samsung SDS (018260)'s IT service performance will fall short of previous expectations. The investment opinion remained 'buy'.
"Samsung SDS' operating profit is expected to reach 220.9 billion won in the first quarter of this year, which will meet the consensus," Daol Investment & Securities said in a report. "Excluding about 17 billion won in one-off profits from the logistics sector, consolidated operating profit will be 204 billion won, slightly below the consensus."
Specifically, the operating profit ratio of the IT service sector is expected to be 11.1 percent, up 1.1 percentage points (p) from the same period last year, predicting that the growth trend will continue, but it will fall short of the existing forecast.
As a result, the company expected its annual operating profit for this year and next year to be 905.7 billion won and 1.55 trillion won, respectively, lowering its previous estimates by 5.7% and 6.7%, respectively.
"The annual operating profit of the IT service sector will increase 13% this year from last year, the highest level since 2019, but its value is still only 15.4 times less than the 2019 average (21.9 times)," said Daol Investment & Securities Co.
AlphaBIZ Kim Jisun(stockmk2020@alphabiz.co.kr)
